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Shipbuilding – China Stuggles to Keep Pace with Korean Yards

Shipyards in Korea took market share from Chinese yards in 2011 South Korean yards took market share from Chinese yards in 2011 according to a recent report in the Danish Ship Finance Review. South Korea secured new orders of 13.5 million cgt Korean yards secured almost half of the contracted capacity (13.5 million cgt). Container and Tanker orders accounted for 85% (6 million cgt and 5 million cgt respectively). South Korea therefore maintains the position as the leading global builder of Containers and Tankers. But South Korean yards also added to their market position in the specialized tonnages. For example, orders of 1 million cgt were placed for Drillships in 2011. European owners signed 60% of the orders placed in South Korea during 2011. The order cover dropped on average 14% to 28 months in 2011. Chinese yards struggled to keep pace with their South Korean peers. In 2011, Chinese yards received new orders of 9.5 million cgt (19.5 million cgt in 2010) – primarily Dry Bulk tonnage, which accounts for 60% of the Chinese orderbook. Two thirds of all new orders were placed on behalf of Chinese or European owners. The order cover of Chinese yards dropped, on average, 17% to 28 months in 2011.  

Confitarma and Jiangsu Yards Sign Contract

A group of Naples ship owners have come to an agreement with the Chinese yard Jiangsu New Yanagzijang Construction Co. for the building of 16 90,000 ton bulk carriers. Nicola Coccia Confitarma president with a group of Naples ship-owners and representatives of the Chinese yard signed the agreement on June 20. The order was placed by Perseveranza di navigazione,d’Amato di navigazione spa, Gestioni Amatoriali spa, la Giuseppe Bottiglieri di navigazione spa e Liberty Marittime International who

Japan Shipyards Turn to Fuel-Savings to Compete

According to a report from Bloomberg, Japanese shipbuilders, leapfrogged by South Korean and Chinese yards in an industry they once dominated, are counting on fuel-saving technology to help them overcome a stronger yen and high wages. A Japanese handysize dry-bulk ship typically uses about 24 tons of fuel a day, compared with 28 tons for Chinese-made ones, a Bloomberg source said.   Source: Bloomberg    

Shipping industry market trends for 2014 - John Nikolaou

John Nikolaou

Athens based, Financial Analyst John Nikolaou provides an insight into the recent market trends of the shipping industry:  Greek shipowners have returned to the top of the global shipping economy by controlling a gross tonnage of 164 million tons, overtaking the Japanese on 159.4 million tons. According to Clarksons, this global lead illustrates that Greeks operate much bigger ships because they own 4,984 vessels against 8,537 managed by the Japanese and 6,427 by the Chinese.

China Ocean Shipbuilding Acquires Jiangxi Gas

Photo: China Cosco Holdings

 China Ocean Shipbuilding Industry Group (COSIG) with its unit, China Ocean LNG has bought a 47% stake in Jiangxi Petrochina Kunlun Gas (Jiangxi Gas) for a total of ($6.2m), according to a stock market statement.   The Chinese yard noted the benefits of investing in Jiangxi Gas, which has state-owned enterprise Petrochina Kunlun (51% stake), as a controlling shareholder and which has good connections in the natural gas related industries

Cosco Orders of 20,000-TEU Ships may Go Up to 13

Image: COSCO

 Several media outlets now report confirmations that Cosco is also targeting ultra-large vessels by ordering nine ships of 20,000 teu, with options for four additional vessels.  It was confirmed that China’s Cosco has sealed deals for nine plus four options on 20,000-TEU vessels on home soil. The giant containership orders will take Cosco Container Lines above one million slots for the first time.  

SembCorp Industries Looks To Become A Global Contender

Diversified SembCorp Industries Ltd., fresh from sales of key non-core assets, is hunting for foreign partners in its bid to become a global contender in its core businesses, President Wong Kok Siew said. Already Asia's largest shipyard operator, SembCorp is confident about meeting its internal target of not less than 20 percent growth in net profit per annum and has set its sights beyond Asia. "With the major divestments of non-core over

Chinese Yard Moves Mountains to Build Ships

Asked what was previously on the site of the new Jiangmen Yinxing Shipbuilding yard, a company representative replies, “Mountains, we moved mountains to build ships.” With funds reportedly earned from ship breaking, Jiangmen Yinxing's parent firm has built two shipyards, one for building vessels 10,000 to 80,000 tons and this yard, at Jiangmen on a branch of the Pearl River, for vessels under 10,000 tons. In addition to several huge sheds the yard has several covered and open building and

STX Shipbuilding Gains on Stake Purchase in Aker Yards

STX Shipbuilding Co., the first South Korean yard in China, had its biggest two-day gain in more than a week in Seoul on optimism the purchase of a stake in Norway's Aker Yards ASA will add cruise liners to its range of vessels. STX Shipbuilding has more than quadrupled this year, making it the fourth-best performer in South Korea's Kospi 200 index. The stake purchase in Aker Yards will allow STX Shipbuilding to use the Norwegian company's expertise in cruise liners

OCEANFREIGHT INC. Announces Fleet Expansion


March 29, 2011 - Athens, Greece - OceanFreight Inc., (NASDAQ:OCNF) a global provider of seaborne transportation services for both drybulk and energy commodities, announced today that it has entered into an agreement to purchase two resale newbuilding 206,000 DWT capesize vessels at a well-known Chinese yard. The vessels are scheduled to be delivered in the second and fourth quarter of 2013. The vessels will be purchased from a Company ultimately controlled by our Founder and Chief Executive

Norwegian Cruise Line Enters Chinese Market

Image: Norwegian Cruise Line

Norwegian Cruise Line will introduce the first purpose-built ship customized for the Chinese market in 2017, Norwegian Cruise Line Holdings Ltd. CEO Frank Del Rio announced today during the CruiseWorld China summit in Shanghai.  

Carnival Confirms Chinese JV Cruise

Photo: Carnival Corporation & plc

 In an industry first, the Miami-based  Carnival Corp. will develop a multi-ship domestic Chinese cruise brand with Chinese partners.    Carnival, the world’s largest cruise company, formed a joint venture with China State Shipbuilding Corp

Wärtsilä JV Breaks Ground in China

Picture at the groundbreaking ceremony, Roger Holm, Senior Vice President, Engines, Wärtsilä Marine Solutions and Wu Qiang, President of CSSC, in the middle. (Photo: Wärtsilä)

CSSC Wärtsilä Engine (Shanghai) Co. Ltd (CWEC) celebrated the beginning of construction on its new 20,000 sq.m. factory with a groundbreaking ceremony on October 28 in Lingang, Shanghai.   Following the groundbreaking ceremony

Small Dry, Big Value


VesselsValue’s new Small Dry module provides values for MPPs (and heavy-lift), single and tweendeckers, small handys and general cargo vessels. On the heels of its November 2015 launch, VesselsValue delves deeper into the sector’s nuances, premiums and discounts.  

Chinese PM Inks 2 Agreements During CMA CGM Visit

Chinese Prime Minister LI Keqiang (left) with Jacques R. Saadé, Founder, Chairman and Chief Executive Officer of CMA CGM (Photo: CMA CGM)

The CMA CGM Group hosted the Chinese Prime Minister, the French Foreign Affairs Minister and a ministerial delegation at its headquarters in Marseilles, July 1, the global shipping company announced.   Chinese Prime Minister Li Keqiang was accompanied by France Minister of Foreign Affairs

Keel Laying Ceremony of Princess Cruises Vessel Held

 Julie Benson, ex Vice President of Public Relations for Princess Cruises, Cherry Wang, country director of Carnival China di Princess Cruises, Attilio Dapelo, Direttore stabilimento Monfalcone e Anthony Kaufman, Senior Vic

  The keel laying ceremony of the new unit for Princess Cruises was held today at Fincantieri Monfalcone Shipyard.   The new vessel, which has been ordered by the Carnival Group for the shipowner Princess Cruises, will go to sea in 2017 and it will be the first vessel to be designed

China Far Ahead of India in Submarine Race

INS Chakra, India’s only operating nuclear-powered submarine. Photo: Indian Navy

 Global military reported that recently a Chinese “Yuan” class conventional submarines docked news in Pakistan, once again hurt the Indian Navy submarine fleet.   The Hindustan Times said terms of size, the Chinese Navy submarine force is four times that of India

Shipyards Rising Competitive Stirrings

Shanghai:  Plans for a new “Shanghai Maritime City” might need more ship orders

A mini order boom fueled by gas, “green-tech”, tankers and new rules is underway in shipbuilding. It won’t fill all yards, but changes like the July 2015 cap on sulfur emissions garner retrofit and rush orders. Even China’s Directive 55 obliges its mixed bag of yards to

Russian-Chinese Naval Drills End

Chinese amphibious warship Changbaishan deploys several ZBD-05 infantry fighting vehicles as part of Joint Sea 2015 on Aug. 25, 2015. Chinese MoD Photo

 The second phase of the Russian-Chinese Joint Sea-2015 naval maneuvers has officially ended outside the port of Vladivostok in Russia’s Far East, says spokesman for the Eastern Military District Roman Martov.   "Today

Cosco's Ambitious $1.5Bln Megaship Plan

MV Cosco China. Photo: COSCO

Chinese shipping behemoth Cosco Holdings has confirmed it will order 11 container megaships for $1.5 billion, despite an estimated 30 percent overcapacity in container shipping having sent freight rates to levels that at times don't even cover the fuel cost of moving containers across oceans

Clean Marine to Supply EGCS for two More vessels

3D illustration of Clean Marine EGCS connected to 1 ME 2 AE 1 boiler

Clean Marine has signed a contract with the Chinese yard Huanghai Shipbuilding Co.Ltd. for the supply of exhaust gas cleaning systems (EGCS) on two reefer/fishing support vessels. The vessels are owned by EF Transport (Malta) Ltd, whose fishing fleet is primarily engaged in the North-East

Clean Marine EGCS Installation For Two Vessels

Photo: Clean Marine

Clean Marine  signed a contract with  Chinese yard Huanghai Shipbuilding Co.Ltd. for the supply of exhaust gas cleaning systems (EGCS) on two reefer/fishing support vessels, which are currently under construction. The contract also includes an option for delivery of additional EGCS on

Chinese Shipyard Orders Plunge

Image: CNSS

 New ship orders at Chinese yards have fallen 68.3 percent to the end of August as tough conditions prevailed in the global shipping market, Global Times reported quoting data from the China Association of the National Shipbuilding Industry (CANSI).  

10 Optimarin BWT system for Asian Shipowner

Tore Andersen, CEO Optimarin

  Ballast water treatment (BWT) specialist Optimarin has secured a fleet agreement for the installation of 10 of its flexible, reliable and environmentally friendly systems with an unnamed Asian shipowner. The contract, covering a group of 6,700 TEU container vessels

MacGregor Wins Deck Machinery Order in China

MacGregor has expanded its winch portfolio

  MacGregor, part of Cargotec, has signed contracts with Chinese shipyard Guangzhou Shunhai Shipyard Ltd to deliver anchor handling/towing winch packages for five 48m anchor handling tug supply (AHTS) vessels, each with a 75-tonne bollard pull and one 40m AHTS vessel with a 70-tonne bollard

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